Category: Market News
Shares of Mullen Automotive Inc. MULN, +20.75% charged 16.1% higher in very active morning trading Tuesday. The electric vehicle maker’s stock has already traded in a range of up 6.6% at the intraday low of $1.13, to up 35.8% at the high of $1.44, as trading volume bulged to 85.7 million shares. On Monday, the […]
Shares of Caterpillar Inc. CAT, +4.33% shot up 4.7% toward a six-week high in morning trading Tuesday after the construction and mining equipment company was upgraded at Jefferies, with analyst Stephen Volkmann saying the company has historically been a “strong hedge” to commodity and general inflation. The stock’s rally was enough to pace the Dow […]
Shares of Chevron Corp. CVX, +2.14% rose 0.3% in premarket trading Tuesday into record territory, to put them on track for the longest win streak in 3 1/2 years. The rally comes as oil prices CL00, +2.01% continue their surge to the highest levels in more than a decade as Russia’s invasion of Ukraine and […]
Capri Holdings Ltd. CPRI, -15.36% announced Monday that Joshua Schulman, chief executive of Michael Kors, is leaving the company. Schulman had been announced as the next chief executive of Capri, which is also the parent company to Versace and Jimmy Choo, effective September 2022. Capri gave no further information about the leadership change. John Idol, […]
Oil futures rallied on Monday, with U.S. prices scoring a gain of more than 3% as the U.S. and Britain considered a ban on Russia oil. It’s possible that Russia energy supplies to Europe could be cut by either side, said Jon Maier, chief investment officer at Global X. “The short-term impact would be painful […]
President Joe Biden has not made a decision about banning Russian oil imports into the U.S., White House press secretary Jen Psaki said on Monday. “No decision has been made at this point by the president about a ban on importing oil from Russia,” Psaki told reporters at a regular briefing. Psaki said discussions about […]
Over the next three years, Costco Wholesale Corp. COST, +0.57% will charter seven ships, up from three previously, in order to increase its supply chain flexibility. The company has also leased containers for use on these ships, which will transport goods between Asia, the U.S. and Canada. “With these additions, about a quarter of our […]
U.S. stocks got pounded on Monday as surging commodity prices delivered a fresh blow to Wall Street bulls, with investors reeling from the impact of Russia’s unprovoked invasion of Ukraine and the sanctions leveled against Moscow in response to its military aggressions. Monday’s decline in stocks resulted in a bear market for the Nasdaq Composite […]
ThredUp Inc. TDUP, +7.55% shares fell more than 11% in the extended session Monday after the secondhand retailer posted mixed quarterly results and guided for lower first-quarter sales. ThredUp said it lost $17.9 million, or 18 cents a share, in the fourth quarter, compared with a loss of $17 million, or $1.33 a share, for […]
PVH Corp. PVH, -15.37% said late Monday that as a result of the war in Ukraine it was temporarily closing stores and pausing operations in Russia and Belarus, effective Monday. PVH, the parent company of Calvin Klein, Tommy Hilfiger and others, suspended its e-commerce sites in Russia last week. The company said it had about […]